By Goth Mohamed Goth
Hargeisa, Somaliland – The Ministry of Finance and Economic Development of the Republic of Somaliland hosted the third session of the Ministerial-level Economic Development Committee.
Chaired by the Minister of Finance and Economic Development, Mr. Abdillahi Hassan Aden, the extended meeting featured comprehensive reports and recommendations on advancing the national economy through policy formulation, legislative frameworks, and research studies.
Key agenda items underwent thorough deliberation:
- Analysis of National Production Constraints: Examination of challenges impeding domestic output.
- Investment and Industrial Sector Review: Deliberations on investment climate and industrial development.
- Livestock Sector Assessment: Analysis of current pastoral conditions and livestock production.
- Import Substitution Strategy: Evaluation of domestically produced goods to reduce foreign exchange expenditure on imports, and methods to boost local manufacturing to decrease import dependency.
- Agricultural & Livestock Workforce Development: Detailed discussion on establishing technical skills training programs for workers in crop cultivation and livestock production.
This working session, part of a series of high-level meetings, reflects ongoing initiatives to develop the economy of the Republic of Somaliland. Coordination is led by the Ministry of Finance and Economic Development , supported by a Ministerial Committee and specialized technical sub-committees comprising relevant ministries and key economic sector stakeholders.
Furthermore, the mandate of the Ministry of Finance has been formally expanded. Reflecting this enhanced role through its revised title, the Ministry now explicitly incorporates the “Economic Development” function, prioritizing the advancement of the nation’s core economy.
